Seagate Driving Stock Value Higher

An aggressive share repurchasing program, a 4% yield, and storage demand growing 40% a year. What's not to love?

Seagate Technology is committed to an aggressive share repurchase program that is designed to reduce its outstanding shares by about 30% to 250 million by the end of 2014, according to Patrick O'Malley, Seagate's chief financial officer.

"We can get there," O'Malley told Barron's in an interview Monday. Seagate (ticker: STX) already has reduced its share count to 359 million from 500 million in the past three years. The...